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What is the net impact on the long-term assets

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Question - Medina has a piece of manufacturing equipment that has become obsolete. On December 21, 2020, the company discards the equipment which has a historical cost of 600,000 dollars and accumulated depreciation of 530,000 dollars. What is the net impact on the long-term assets of Touch Tronix Company on its December 31, 2020 statement of financial position?

Reference no: EM132527503

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